ITALY/GERMANY. Autogrill, through its German subsidiary Autogrill Deutschland, has finalised the €65 million acquisition of food & beverage operators Le CroBag Gmbh & Co. KG and F.F.N. GmbH.
The transaction, which was first revealed in December 2017, marks Autogrill’s entry into the German railway station channel, which is worth over €600 million.
The two F&B companies were purchased from Soufflet Group subsidiary Boulangerie Neuhauser. The transaction was cleared by anti-trust authorities on 6 February 2018.
Le CroBag and F.F.N. mainly operate railway station F&B activities under the Le CroBag brand in Germany, Austria and Poland. The Le CroBag network comprises 123 outlets, both directly managed and licensed, with overall revenue exceeding €80 million in 2017.
“The acquisition is consistent with group strategy to focus on the more profitable channels and countries in Europe,” Autogrill stated.
In December, Autogrill Group CEO Gianmario Tondato da Ruos commented: “Germany is one of the key markets for food & beverage in Europe, where Autogrill intends to strengthen its presence. The acquisition of Le CroBag is also an opportunity to enter the main European railways channel, with a development potential in other European countries.”
Autogrill today operates 55 outlets in Germany at airports, motorways and shopping malls, generating revenue of around €100 million in 2016.
It is the world’s leading provider of F&B services for travellers. Autogrill is active in 31 countries with around 4,000 points of sale. It has been listed on the Milan stock exchange since 1997.
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